Portugal Colonial - UK telecoms firm BT announces exit of chief executive

"Philip Jansen has informed the board that at an appropriate moment over the next 12 months he intends to step down from his role," the group said in a statement.

Sky News said the British national was studying job opportunities in the United States.

Jansen has held the top job for more than four years, during which time he oversaw a big push into high-speed broadband internet services.

BT in May said it would axe up to 55,000 jobs, or 42 percent of its workforce, in response to rampant inflation.

"Philip has done an excellent job in his time at BT and the board is fully supportive of our long-term strategy which he and his team are pursuing," BT chairman Adam Crozier said in the statement.

"Whilst we are still in the early years of that transformation, we are on track to deliver."

M.Carneiro--PC